Significance of the gender divide in financial services in 2014

Since it was first conducted in 2010, this report has become a cornerstone of Finsia’s Diversity Dividend initiative.

Through an online survey Finsia has measured attitudes to policy responses to bridge the gender gap in nancial services, and how these have changed over time.

The survey received a record 1298 responses this year from nance professionals in Australia and New Zealand, showing that gender diversity is increasingly a part of the dialogue about the modern workplace.

This year, a new question was introduced to the survey to test how men and women view the new reporting requirements administered by the Workplace Gender Equality Agency (WGEA).

This year the coverage of the Workplace Gender Equality Act has been extended to employers that employ more than 100 personnel.

Under the Act, these organisations are required to report to the agency against six gender equality indicators which include gender composition of the workforce and equal remuneration between women and men.

Finsia can reveal that:

42.9% of women; and

34.7% of men

either agree or strongly agree that these reporting measures will prompt organisations to address gender inequality issues in the workplace. While 32.9% of women and 39.6% have taken a neutral stance to these measures, arguably this is evidence of a ‘wait and see’ approach.